Nayda Rivera Sells 25,000 Shares of First BanCorp. (NYSE:FBP) Stock

First BanCorp. (NYSE:FBP) EVP Nayda Rivera sold 25,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $21.19, for a total value of $529,750.00. Following the transaction, the executive vice president now owns 236,490 shares in the company, valued at $5,011,223.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

First BanCorp. Price Performance

Shares of NYSE FBP traded down $0.03 during midday trading on Tuesday, hitting $21.65. The stock had a trading volume of 1,087,483 shares, compared to its average volume of 1,042,111. First BanCorp. has a 1 year low of $13.89 and a 1 year high of $22.40. The company has a market capitalization of $3.55 billion, a PE ratio of 12.06, a P/E/G ratio of 1.90 and a beta of 1.11. The stock has a 50 day simple moving average of $20.40 and a 200-day simple moving average of $19.47. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.36.

First BanCorp. (NYSE:FBP) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.04. The business had revenue of $234.57 million during the quarter, compared to the consensus estimate of $238.51 million. First BanCorp. had a return on equity of 19.91% and a net margin of 24.94%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.46 earnings per share. On average, sell-side analysts expect that First BanCorp. will post 1.76 EPS for the current fiscal year.

First BanCorp. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.16 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.96%. First BanCorp.’s dividend payout ratio is currently 35.36%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Jupiter Asset Management Ltd. bought a new position in shares of First BanCorp. during the 1st quarter valued at about $16,719,000. Vanguard Group Inc. grew its holdings in First BanCorp. by 2.0% in the first quarter. Vanguard Group Inc. now owns 22,414,701 shares of the bank’s stock worth $393,154,000 after purchasing an additional 448,845 shares during the period. LSV Asset Management boosted its holdings in First BanCorp. by 22.9% during the 2nd quarter. LSV Asset Management now owns 1,619,842 shares of the bank’s stock worth $29,627,000 after acquiring an additional 301,443 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in First BanCorp. by 55.8% in the second quarter. Panagora Asset Management Inc. now owns 656,855 shares of the bank’s stock valued at $12,014,000 after purchasing an additional 235,156 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its stake in First BanCorp. by 44.4% in the 1st quarter. Edgestream Partners L.P. now owns 459,484 shares of the bank’s stock worth $8,059,000 after purchasing an additional 141,261 shares during the period. 97.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company cut their price objective on First BanCorp. from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Hovde Group decreased their price objective on First BanCorp. from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Piper Sandler reduced their price target on First BanCorp. from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, First BanCorp. currently has a consensus rating of “Moderate Buy” and an average target price of $21.40.

About First BanCorp.

First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to consumers and commercial customers. The company operates through six segments: Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations.